Current Affairs Current Affairs - 16 March 2017 - Vikalp Education

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Current Affairs - 16 March 2017

General Affairs 

But Who Goes Back In Time, Anna Hazare Chides Ex-Protege Arvind Kejriwal
  • Unable to trump the Congress in Punjab, Delhi Chief Minister, Arvind Kejriwal today alleged that the Electronic Voting Machines or EVMs used in the state were rigged to ensure the defeat of his Aam Aadmi Party or AAP. Mr Kejriwal employed this argument to ask that next month's municipal election in Delhi be held old-school, with ballot papers.

    "The world is progressing at a fast rate and here we are discussing going back in time to ballot papers," said Anna Hazare, 80-year-old activist and former mentor to Mr Kejriwal, joining a roster of people who have derided Mr Kejriwal's accusations as those of a sore loser.

    Though several exit polls forecast a photo-finish for AAP and the Congress in Punjab, the result was nowhere near close. Of 117 seats, the Congress, led by Captain Amarinder Singh, won 77 seats. AAP, whose campaign starred Mr Kejriwal, won 22. The incumbent Akali-BJP alliance won 18 seats.

    Mr Kejriwal alleged that '20-25 per cent' of his party's votes were transferred illicitly to the ruling coalition, splitting the anti-Congress vote and allowing Captain Singh to emerge victorious.

    Harsimrat Kaur Badal, a union minister whose family runs the Akali Dal, diagnosed Mr Kejriwal with having "lost his mental balance" and prescribed "vipassana" or extended silent meditation for the Chief Minister.

    Anna Hazare formed the appealing epicentre of the India Against Corruption movement organised by Mr Kejriwal in 2011.Together, they collected civil society groups, college students and others in a huge protest in Delhi, demanding urgent anti-corruption measures including the appointment of a national ombudsman or Lokayukta. Their appeal served as a lightning rod for a mass movement at a time when the government of Prime Minister Manmohan Singh had been ousted for an assortment of large scams. But Anna and his protege; fell out over Mr Kejriwal's decision to set up a political party. Anna said he wanted to have nothing to do with politics. They parted ways and AAP was formed.

    In 2013, Mr Kejriwal was elected Chief Minister of Delhi after AAP made a spectacular political debut. He resigned just 49 days later because his anti-corruption proposal was stalled in the legislature. He later apologised for his petulant move and sought public forgiveness in a series of interviews. In 2015, he was re-elected with AAP losing just three seats in Delhi. 

    AAP was keen to use Punjab as a springboard for its national expansion plans ahead of the next general election in 2019, when its leaders envisaged it as a formidable opponent to the Congress and the BJP. For months, Mr Kejriwal traversed Punjab, accumulating criticism of playing hooky as Delhi Chief Minister. Thousands of NRIs flew down from Canada, Australia and other countries to join Mr Kejriwal's bid with door-to-door visits. 

    Next month, the Municipal Corporation of Delhi, currently held by the BJP, will pick its new legislators. The election will be seen as a litmus test of the Chief Minister's popularity half-way through his term, and as a test of his ability to withstand the Modi Wave which has resulted in humongous wins for the BJP in Uttar Pradesh and Uttarakhand. Mr Kejriwal serially accuses the government of Prime Minister Narendra Modi of undermining his authority in the capital, which is a Union Territory and not a state, with key departments like the police reporting not to Mr Kejriwal but the centre. Winning the Municipal Corporation would confer more control on him in running the capital.

There Are Defects In You, Not In Voting Machines: BJP's Venkaiah Naidu To Mayawati
  • The BJP today ridiculed Bahujan Samaj Party Chief Mayawati's allegations of EVM tampering and asked her to "gracefully accept the people's mandate".

    "When you win, EVMs are right. When you lose, EVMs are wrong. This shows that there are some defects in you (Mayawati)," Union Minister M Venkaiah Naidu told reporters outside Parliament.

    He said Electronic Voting Machines (EVMs) are under the control of the Election Commission (EC) which has dubbed the the allegations as "wrong".

    "You should gracefully accept the people's mandate. People's have rejected you (BSP)," Mr Naidu said.

    Party's UP chief Keshav Prasad Maurya said, "When Mayawati and SP leader Akhilesh Yadav had won the elections, the EVMs were okay but when BJP won, EVMs are not okay. Mayawati should get herself treated by some good doctor."

    He claimed that Mayawati had supported the wealthy and not the dalits which led to her poll debacle.

    The BSP chief had alleged that the BJP won with a thumping majority as the EVMs had been rigged and had sought a re-election.

    She demanded that re-polling be held through ballot papers.

    However, the EC had said that there was "no merit" in her allegations of EVM tampering.

    After BSP chief Mayawati, Delhi Chief Minister Arvind Kejriwal today claimed that EVMs may have been tampered with in Punjab to keep AAP out of power. He yesterday sought use of ballot papers in next month's municipal polls in the national capital.

    Driven by the Modi wave, the BJP, along with its ally, had stormed to power in Uttar Pradesh after 14 years, securing 325 of the 403 assembly seats.

    On the other hand, the SP won 47 seats while its ally the Congress got seven seats. The BSP won 19 seats.

3 Terrorists Killed In Kupwara Encounter. A 6-Year-Old Girl Also Dies
  • Three terrorists were killed in a fierce gun-battle with security forces in north Kashmir's Kupwara district but the stray bullets in the operation also killed a girl, barely six years old, who was inside her house a short distance away. Her elder brother, a seven-year-old, was injured as bullets flew into their house.

    The children lived about 100 metres from the encounter site in Jugtiyal village of Kupwara, about 100 kilometres north of Jammu and Kashmir capital Srinagar, where a joint team of the Rashtriya Rifles, CRPF and the state police had cornered a group of terrorists.

    "It is unfortunate that these kids were hit by stray bullets during the encounter," said Javed Geelani, Inspector General of Police Kashmir.

    The operation to flush out the terrorists started in the early hours of Wednesday after a tip-off about their presence. It continued till late afternoon when the army's Northern Command announced the three terrorists had been eliminated.

    A policeman was also injured in the eight-hour-long encounter. Police said three rifles and other arms and ammunition were later seized.

    This is the second encounter over the last week in which a civilian lost his life. A 15-year-old boy was killed in firing at Padgampora village in south Kashmir's Pulwama district last week after a crowd tried to disrupt the operation.

    But there has been a spike in the violence in north Kashmir, particularly Kupwara, in the recent past, a development that is being linked to an increase in infiltration attempts from across the Line of Control. According to the Home Ministry in Delhi, infiltration attempts (364) had gone up by three times in 2016 over the previous year's 121.

    Improvements in security agencies picking up intelligence inputs about terrorist movements in the state has also led to a steady increase in the number of gun-fights like the one seen in Kupwara on Wednesday. Last year, there were 97 encounters that led to killing of 146 terrorists and arrests of another 76. But security forces paid a heavy price for the successes; 60 security personnel died in these firefights.

Chief Minister Devendra Fadnavis, INS Viraat's Super-Hero? A Proposal For An 'Underwater Memorial'
  • A week after Navy Chief Admiral Lanba said the ex-flagship of the Indian Navy, Viraat, will be sold for scrap within four months, has learned that the Maharashtra government has a Plan B. Sources say the state is interested in acquiring the aircraft carrier and sinking her to form an "underwater memorial" off the Sindhudurg coast, 500 kms south of Mumbai.

    "The proposed memorial will become an artificial reef and is expected to be a world-class scuba diving site. This will help to boost tourism not only in Sindhudurg but also in Ratnagiri," says a proposal from the state's tourism department.

    On March 6, a day before the warship was decommissioned after nearly six decades in operation, the Navy Chief told that he did not want the INS Viraat to linger indefinitely in the hope that a state government would come forward to acquire her. He did, however, suggest, "One proposal could be that we convert her into a marine museum by taking her to one of our major tourist harbors and sink her in the water and make her into a dive site where some aircraft carriers have been put to rest also. She would be there as a legacy."

    Maharashtra's plan is to "keep the name and existence of INS Viraat in history by creating the world's second largest underwater memorial and artificial reef,'' according to the note from its tourism officials. Has also learned that Maharashtra Chief Minister Devendra Fadnavis has been briefed on the proposal and the state government is likely to write to the Ministry of Defence, making a firm offer to take over the ship within days. What has been suggested by experts to the Maharashtra government is to sink the Viraat 24 kms West of Vijaydurg in a part of the Arabian Sea where the waters are crystal clear.  She would be sunk, using explosives, at a depth of approximately 50 metres and would be accessible to scuba divers of varying levels of experience. The mast of the ship would be just 10 metres beneath the surface of the sea.  The underwater memorial, the proposal says,  could generate employment for over 500 youth and indirect employment for over 4000 people.  

    Once harmful asbestos and wiring is removed from old warships, a process that could take up to a year, the Viraat could eventually also become a sanctuary for marine life in the region. Sunken ships create a diverse marine habitat that supports marine life and creates a micro eco-system.

    "Wreck diving" is considered one of the biggest attractions in scuba diving and is rarely offered in India by scuba diving operators.

    In 2006, the US had sunk a retired aircraft carrier, the USS Oriskany, off the coast of Florida to create the largest artificial reef of its type. In fact, several ships have been sunk off Florida, which reportedly earns the state government $95 million dollars annually through revenue from tourists.

    The Navy's decision to scrap the Viraat comes after the Andhra Pradesh government appeared to develop cold feet after proposing that it would convert her into a floating hotel and museum, a venture that could have cost as much as 1,000 crores.

India Tells Pak To Rein In 'Compulsive Hostility' Towards It
  • India today asked Pakistan to rein in its "compulsive hostility" towards it and fulfil its obligation to vacate illegal occupation of PoK, which has become a "hub" for the global export of terror. Exercising its right to reply during a UN Human Rights Council session in Geneva, the Indian Representative said Pakistan must rein in its "compulsive hostility" towards India.

    "We ask Pakistan to stop inciting and supporting violence and terrorism in any part of India and refrain from meddling in our internal affairs in any manner," the official said.

    Once again Pakistan's delegation has chosen to misuse the Council to make fallacious references about internal matters pertaining to Jammu and Kashmir, the diplomat said.

    Emphasising that terrorism is the grossest violation of human rights and should be so acknowledged by any impartial and objective observer, the Indian side said a part of the territories of Jammu and Kashmir remain under the forcible and illegal occupation of Pakistan.

    "We also demand that Pakistan must fulfil its obligation to vacate illegal occupation of Pakistan-occupied Kashmir (PoK)," the diplomat said.

    "It is unfortunate that in recent times the people of PoK have become victims of sectarian conflict, terrorism and extreme economic hardship because of Pakistan's occupation and discriminatory policies," the Indian side said.

    "The Indian state of J&K is part of a pluralistic and secular democracy, where an independent judiciary, an active media and a vibrant civil society guarantee freedoms. In contrast, Pakistan-occupied Kashmir is administered by a 'deep state' and has become a hub for the global export of terror," the diplomat said.

    The Indian side asserted that India does not accept attempts by Pakistan to denigrate the democratic choice that has been regularly exercised by the people of J&K over the last six decades since our independence.

    "Pakistan's continued support for terror groups operating in J&K is the main challenge to protecting the human rights of our citizens in the State.

    "Pakistan's selective approach in tackling terror groups operating outside Pakistan and within, despite the numerous solemn promises made underscores the continuing unwillingness to acknowledge the truth," the Indian Representative said.

    The Indian side said apart from becoming "world's terrorism factory", Pakistan has alienated its own people through continued mistreatment of Hindus, Christians, Shias, Ahmadiyas and other minorities.

    "In this Council, Pakistan has referred to situation of minorities in India. Minorities in India have been Prime Ministers, Presidents, Vice-Presidents, senior Cabinet Ministers, senior civil servants, cricket team captains, Bollywood superstars-can the minorities of Pakistan claim even a shadow of this? All they have are blasphemy laws and relentless abuse and violation of their human rights," the Indian side said.

Business Affairs 

From state polls to RBI policy: How recent events strengthened the Indian rupee
  • The Indian rupee had strengthened considerably in the boom period of 2005 to 2007, when it appreciated to 38.19 levels against the US dollar. But post 2008, when dollars started flowing out of the country, the rupee started its downward journey. In 2013, rupee touched a low of 68.69 against the US dollar. 
    That was the time Raghuram Rajan was brought in as RBI Governor. Rajan's initiatives, such as raising dollar deposits of over $30 billion, halted the rupee depreciation.
    In fact, it appreciated briefly to 58 levels. But it has largely remained range bound since then between 66 to 68 levels. This week, the rupee has made some smart gains by closing at a 16-month high of 65.73 levels. While there are four major contributors to the rupee appreciation, it is too early to say that the currency is on its way towards a long 'strengthening cycle'.

    i)    Stability of government 

    The central government, which enjoyed a majority in the lower house, now looks more stronger and stable. The recent successes in the state elections, including Uttar Pradesh, has given a boost to the BJP-led NDA government. The  government will now soon have the numbers to go for bold reforms without any disruption in Parliament. Experts say the conditions are now right for more stable dollar  inflows via the FDI route.

    ii)    Fund flow into Indian equity markets 

    Foreign funds are back in the Indian equity market. GDP growth looks intact post demonetisation even though most analysts had expected the economy to take a knock.  The latest numbers released by the CSO doesn't show major losses, though many experts says it is  too early to  pass a judgment.  The corporate sector is also on the  path of de-leveraging  and huge investment in the rural economy and infrastructure is going to boost consumption.  The fiscal deficit, too, is manageable.

    iii)    RBI's neutral stance on policy rates 

    The RBI's neutral stance on policy rates has been a huge relief for currency  traders. The easing of interest rate cycle clearly shrinks the arbitrage of rates between India and global markets. In fact, inflation numbers are also inching up, which reduces scope for further cuts going forward. This will boost the flow of funds into India in debt  and other fixed income securities. But there are also concerns of Fed hiking rates. If it hikes rates in 2017 and Indian  rates remain unchanged, funds could flow back to the US.

    iv)    Weakening dollar 

    US President Donald Trump has inherited an economy that was  recovering fast,  short term interest  rates were set to go up  and dollar, too, was strengthening  against the global currencies.
    There was a huge expectations from new President Trump to give  economy a  push with his new policies/ ideas. But there is now a fear of political uncertainty and protectionism which could push the dollar down. This is good news for the Indian rupee. But one just can't discount Trump who could  sprang a surprise by tax cuts and other fiscal policies to boost business. 

Parkway Pantai integrates part of Indian operations with brand Gleneagles
  • Asia's largest healthcare provider Parkway Pantai, which forayed into India in 2015 with the acquisition of Hyderabad-based Continental Hospitals and tertiary care chain Global Hospitals, has integrated part of its Indian operations with its global brand Gleneagles.  
    While the erstwhile Global Hospitals, with units in Hyderabad, Chennai and Bengaluru, has been rebranded under Gleneagles, the company has chosen to retain the identity of Continental Hospitals for the time being. As of now, India is the third home market of Parkway Pantai Group, after Singapore and Malaysia, following the two big acquisitions. The company has a network of 10 hospitals in Chennai, Bengaluru, Hyderabad, Kolkata and Mumbai, Ramesh Krishnan, chief executive, India Operation, Parkway Pantai, told Business Today.
    Parkway Pantai is part of Malaysia-based IHH Healthcare, the world's second largest healthcare group by market capitalisation. IHH operates more than 10,000 beds across 52 hospitals in 10 countries.
    In March 2015, Parkway bought 51 per cent in Continental Hospitals for over Rs 300 crore and in August that year, it acquired 74 per cent stake in Global Hospitals for Rs 1,800 crore.
    "While we have 1,100 beds as part of Global Hospitals' alliance, 300 beds are operational from the Continental Hospitals' 650-bed capacity. We have 700 beds in Kolkata and altogether 2,100 beds are now operational. We may add another 1,000 beds, including suitable forays into the North Indian markets like the NCR region in future," Krishnan said.
    The major change post the acquisition of Global Hospitals was the rationalisation of systems and clinical programmes in tune with Parkway standards. About Rs 280 crore was infused to clear debts and HDFC Bank is the sole lender now. About Rs 100 crore was spent on select hospitals to create latest medical equipment infrastructure.
    Parkway was a strategic investor in Apollo Hospitals for a long time, with a joint-venture hospital in Kolkata. India's Fortis Healthcare made an unsuccessful attempt to take over Parkway a few years ago.

Core problem of NPAs is with large corporates in steel, textile and infrastructure: Arun Jaitley
  • Finance Minister Arun Jaitley on Wednesday said the rate of rise in banks' non-performing assets has slowed down in the March quarter and the steel sector has started showing signs of improvement.
    "The core problem of NPAs is with very large corporates, though few in numbers, which are predominantly in the steel, power, infrastructure and textile sectors," Jaitley said at the Parliamentary Consultative Committee meeting.
    "To deal with the NPAs of the banks is a challenging task even though the NPAs have shown a declining trend in the last quarter of the current financial year," Jaitley further added.
    Earlier in the month, the chairman of a key Parliamentary panel had favoured naming and shaming corporate houses which default on repayment of bank loans. Public Accounts Committee (PAC) chief K V Thomas hoped "naming and shaming" such corporate houses may help financial institutions get back their money.
    "In case, of farmers or small traders, banks act strong and they go to their houses to recover money. They even get published their name and photograph in newspapers. But when it comes to corporate houses, they don't reveal the names. Banks need to answer as to what was the guarantee taken by them before giving such big amounts as loan to corporate houses and what action is being taken by them," Thomas had said.
    The gross NPAs of public sector banks had risen from Rs 5.02 lakh crore at the end of March 2016 to Rs 6.08 lakh crore in December 2016. And out of the Rs 6.8 lakh crore, a whopping 70 per cent are those of big corporate houses, Thomas had said.
    However, Arun Jaitley today did not make any statement on 'naming and shaming'. He said some corporates expanded their capacity during the boom period from 2003-2008, but could not face the onslaught of global financial crisis and consequent slow down thereafter.
    "The government is taking sectoral specific measures to deal with the problem of NPAs specifically in the resolution of large debts... Steel Sector is on its path of recovery while many decisions have been taken in the infrastructure, power and textile Sectors to resolve their problems," Jaitley said.
    As of September 30, 2016, the NPAs declared by various scheduled commercial banks stood at a stupendous Rs 6,65,864 crore.
    According to the Finance Ministry data, the NPAs of the country's largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India.
    Bank of Baroda has NPAs of Rs 35,467 crore, Canara Bank Rs 31,466 crore, Indian Overseas Bank Rs 31,073 crore, Union Bank of India Rs 27,891 crore, IDBI Bank Limited Rs 25,973 crore, Central Bank of India Rs 25,718 crore, Allahabad Bank Rs 18,852 crore and Oriental Bank of Commerce Rs 18,383 crore.

    Pratt & Whitney says that it's business as usual for them in India after its engines face safety issues
    • "We are not losing our sleep over it," says Palash Roy Chowdhury, managing director (India) for Pratt & Whitney (P&W) dismissing the criticism around its controversial PW1100G engine that's powering some Airbus A320neo aircraft of IndiGo and GoAir.
      There are billions of dollars at stake for P&W, the US-based aerospace engine maker, after its engine - PW1100G - based on geared turbofan (GTF) technology started developing snags one after the other. "Indian carriers have been early adopters of this technology," says Chowdhury.
      A series of incidents over the past two months has raised doubts on the safety of P&W engines. According to reports, there are six incidents involving A320neos using P&W engines which have developed glitches, including a fire on the tail of a GoAir flight. Following which, the aviation regulator Directorate General of Civil Aviation (DGCA) ordered boroscopic inspection of 21 Airbus A320neos (IndiGo's 16 and GoAir's 5).
      The boroscopic inspection is expected to be completed in four days (by March 19). Sources say that the problems have cropped up due to harsh environment conditions in the country.
      P&W's Chowdhury says that the typical lifecycle of such a programme (read: GFT technology) is about 30 years, and the technology has just finished its first year. "It's a new technology. The engine was commercially launched January last year with Lufthansa. The GTF technology is being delivered to 13 customers, and powering over 100 engines currently. There's a continuous improvement process for our programmes," he adds.
      Currently, there are three major concerns with the engine - distress in a carbon-air seal for No. 3 bearing, degradation of combustion chambers, and main gearbox failure. "The bearing problem will be addressed in a few weeks whereas the combustion chambers issue will be fixed in the next round of upgrade by September this year. As we implement solutions, the problems will go away," says Chowdhury.
      In the meantime, P&W has arranged for spare engines in order to avoid inconvenience to its customers. Nearly half of the fleet equipped with PW1100G engines are operating in India at the moment.
      Developed over the past 10 years with a total cost of $10 billion, the GTF engine was supposed to benefit airlines enormously. The engine has lower noise footprint (75 per cent less), consumes 16 per cent less fuel and reduces regulated emissions by 50 per cent. The parts of the engine is manufactured across different parts of the world and assembled in three locations - Connecticut, Florida and Germany. P&W has about 8,000 pending orders for engines based on GTF technology.
      In the aviation history, engine-related snags are rare. However, airlines in India have faced engineering and equipment-related issues in the past. Boieng 787 Dreamliner, flown by Air India, had encountered 44 major engineering faults between 2012 and 2014, as per DGCA reports. Recently, Vijay Mallya, the head of now-defunct Kingfisher Airlines has blamed P&W's group firm IAE for supplying defective engines which led to the fall of the airline.

      Three Class X students in Jaipur get Rs 3 crore funding for start-up
      • In a remarkable feat for a class X student, three students from jaipur have received funding of Rs 3 crore for their start-up 'Infusion Beverages', The Times of India reported.
        Chetanya Golechha, Mrigank Gujjar and Utsav Jain of Neerja Modi School in Jaipur first pitched the idea, then found an investor and saw their product turn a reality in less than a year.
        The students' startup plan is to make preservative-less flavoured water without sugar and soda.
        The students had done most of their research on Google before seeking their parents' permission to go ahead with the plan.
        "We carried out intense research on Google to prepare a healthy drink without sugar and soda. But soon we realized that turning an idea into reality is not easy when you are a minor," Gujjar, who is one of the students involved in the start up, told the Times of India.  
        The students also faced legal hurdles as documents are needed to begin a start up and as kids they did not have any.  
        "Procuring the licence, necessary permissions from the food department and approval from FSSAI, are a herculean task. As we were minors our parents sought the permission on our behalf," Gujjar said.
        By January, the trio had sold 8,000 bottles of flavoured water-kewra, rose and bel flavours through business to business mode.

      General Awareness


      • 1. Fiscal Policy is composed of several parts which include?
        a) Tax Policy and Expenditure Policy
        b) Investment or Disinvestment Strategies
        c) Debt or Surplus Management
        d) All of the Above
        e) None of the above

        2. Rural Infrastructure Development fund (RIDF) is financed by?
        a) Selected group of public Sector Banks
        b) Ministry of Rural Development
        c) Reserve Bank of India
        d) NABARD
        e) None of the above

        3. The bank conducts Government business
        as an agent of ?
        a) Union and state Government
        b) Reserve Bank of India
        c) State Bank of India
        d) SIDBI
        e) None of the above

        4. The Bank of Calcutta, Bank of Bombay and Bank of Madras were merged in 1921 to form?
        a) Reserve Bank of India
        b) Imperial Bank of India
        c) Bank of India
        d) Union Bank of India
        e) None of the above

        5. India's largest commercial bank is?
        a) Central Bank of India
        b) State Bank of India
        c) Indian overseas bank
        d) Bank of India
        e) Punjab National Bank

        6. Interest on the savings bank accounts is compounded?
        a) Daily
        b) Yearly
        c) Quarterly
        d) Half-yearly
        e) All of the above

        7. Rates of Interest on deposits are determined by?
        a) IBA
        b) Ministry of Finance
        c) The Bank Itself
        d) Government of India
        e) Other than the given

        8. Current account becomes dormant when there are no withdrawals for the last?
        a) 3 months
        b) 6 months
        c) 24 months
        d) 12 months
        e) None of the above

        9. In terms of Section 5(1) (5) of the Banking Regulation Act, 1949, a ‘banking company’ means any company which
        a) accepts deposits from the public
        b) undertakes lending of money
        c) transacts the business of banking in
        d) All of the above
        e) None of the above

        10.Which of the following is not a negotiable instrument ?
        a) Cheque
        b) Pay order
        c) Bill of Exchange
        d) All of the above are negotiable instruments
        e) Other than the given

        11. “Currency Swap” is an instrument to manage?
        a) Currency Risk
        b) Interest Rate Risk
        c) Currency and Interest Rate Risk
        d) Cash Flows in different currencies
        e) All of the above

        12. “Plastic Money” denotes?
        a) Bearer cheque
        b) Credit card
        c) Demand Draft
        d) Traveller’s cheque
        e) Gift cheque

        13. National Income of India is estimated by?
        a) Central Estimates Survey Committee
        b) National Sample Survey Committee
        c) Central Statistical Organization
        d) Finance Ministry
        e) Other than the given

        14. Nomination facility is available to?
        a) Individuals/Sole Proprietorship accounts/Private Limited Companies
        b) Individuals/Sole Proprietorship Accounts/Partnership Accounts
        c) Individuals/Sole Proprietorship Accounts
        d) All of the above
        e) Other than the given

        15. Off Shore Banking Unit is?
        a) a unit which is situated in Foreign country
        b) a unit which is situated in Special Economic Zones and deals in foreign currency only
        c) a unit which is actively participating in lending foreign currency loans and in joint ventures
        d) All of the above
        e) None of the above

        16. If a currency note is demonetized, it takes away the ....... of that currency.
        a) legal tender character
        b) exchange rate
        c) value
        d) All of the above
        e) Other than the given

        17. Currency Note containing political slogan is not a legal tender as per:
        a) Legal Tender (Inscribed Notes) Act, 1964
        b) Negotiable Instruments Act, 1881
        c) Reserve Bank of India Act
        d) All of the above
        e) Other than the given

        18. Deposits under NRE/FCNB accounts are linked to?
        a) Base Rate
        b) SIBOR
        c) LIBOR
        d) All of the above
        e) Other than the given

        19. Electronic Fund Transfer scheme of RBI has been renamed as?
        a) Clearing
        b) Core Banking Solutions
        c) Real Time Gross Settlement
        d) National Electronic Fund Transfer
        e) All of the above

        20. Which private bank is recently merged with Kotak Mahindra Bank (KMB)?
        a) ING Vysya Bank
        b) KarurVysya Bank
        c) Lakshmi Vilas Bank
        d) Jammu and Kashmir Bank
        e) Other than the given

        21. Which one of the following rates is not decided by RBI?
        a) Repo rate
        b) Base rate
        c) Bank rate
        d) Marginal Standing Facility (MSF) rate
        e) Other than the given

        22. Which of the following bank is generally not considered as Commercial bank?
        a) Public Sector Bank
        b) Private Sector Bank
        c) Development Bank
        d) Foreign Bank
        e) Other than the given

        23. Which two private sector banks have got license from RBI in 2014?
        a) Bandhan and Yes Bank
        b) Yes Bank and IDFC
        c) IDFC Bank and Bandhan Bank
        d) Axis Bank and ICICI
        e) Other than the given

        24. Which bank first introduced Automated Teller Machine (ATM) in India (1987)?
        a) SBI
        b) Punjab National Bank
        c) Federal Bank
        d) HSBC
        e) Other than the given

        25. Refinance facility is provided by NABARD. Which institutions can avail this facility?
        a) State cooperative banks
        b) Regional rural banks
        c) Commercial bank
        d) All of the above
        e) Other than the given

        26. Which of the following is true?
        a) NBFCs can accept deposits from the public
        b) NBFCs cannot offer deposit schemes to the public
        c) Deposits of NBFCs are insured with DICGC
        d) NBFCs can accept deposits from public if they are registered and permitted by RBI
        e) Other than the given

        27. Base rate is the rate below which no bank can allow their lending to anyone. Who sets-up this ‘Base rate’ for banks?
        a) Individual Banks’ Board
        b) Ministry of Commerce
        c) Ministry of Finance
        d) Rreserve Bank of India
        e) Interest Rate Commission of India

        28. Commercial banks are the largest category of financial intermediaries; others include?
        a) Life-insurance companies
        b) Pension funds
        c) Savings and loan institutions
        d) All of the above
        e) None of the above

        29. An average citizen cannot open a Savings account in which of the following?
        a) Commercial bank
        b) Post office
        c) Co-operative bank
        d) RBI
        e) Other than the given

        30. Educational for All Development Index is released by?
        a) IMF
        b) World Bank
        c) UNO
        d) WTO
        e) Other than the given

        31. Non-Agricultural Market Access (NAMA) word is related to which organization?
        a) WTO
        b) UNCTAD
        c) IMF
        d) World Bank
        e) NDB

        32. RBI has introduced “Marginal Standing Facility” with the objective of:
        a) Controlling Inflation
        b) Containing instability in long term inter-bank rates
        c) Containing instability in the overnight inter-bank rates
        d) All of the above
        e) None of the above

        33. Which of the following is not a measure to control inflation as adopted by Govt. of India and/or RBI?
        a) Monetary Policy
        b) Fiscal Policy
        c) Financial Inclusion
        d) Price control
        e) Bank Rate Policy

        34. card is basically a payment mechanism which allows the holder to make purchase without any immediate cash outflows either physically or through his accounts?
        a) Debit
        b) Smart
        c) Credit
        d) ATM
        e) Kisan Credit

        35. The Negotiable Instruments Act deals with?
        a) Cheques, demand drafts, banker’s cheques
        b) Promissory notes, bills of exchange and cheques
        c) Bills of exchange, Cheques and demand drafts
        d) Cheques, demand drafts and saving bank withdrawal forms
        e) None of the above

        36. Small Industries Development Bank of India’s Single Window scheme means that a borrower is granted?
        a) Both term loan for fixed assets & loan for working capital through the same agency, namely, SFCs or Commercial Banks
        b) Both term and working capital through SIDBI itself
        c) Both term loan and working capital hrough IDBI
        d) All of the above
        e) None of the above

        37. has been declared the first ‘total banking state’ in India, successfully implementing the total financial inclusion thereby ensuring banking facility to all households.
        a) Maharashtra
        b) Kerala
        c) Himachal Pradesh
        d) Uttarakhand
        e) None of the above

        38. What do you understand by the term ‘Mortgage’?
        a) Sale of moveable security in the event of default by the borrower
        b) Registration of charge with the Registrar of Companies
        c) Making the security of immovable property avail able as a cover for a home loan by the borrower
        d) Registration of charge with the Regional Transport Authority
        e) Returning of the security to borrower by the bank of receipt of full payment

        39.Which of the following acts is useful in controlling HAWALA transactions?
        a) FEMA Act
        b) RBI Act
        c) DICGC Act
        d) Banking Regulation Act
        e) None of the above

        40.CAMELS’ is a type of Bank Rating System. In CAMELS, what does ‘C’ stand for?
        a) Currency
        b) Compensation
        c) Capital Adequacy
        d) Capitalisation
        e) None of the above

        1.d 2.d 3.b 4.b 5.b 6.a 7.c 8.c 9.d 10.d
        11.d 12.b 13.c 14.c 15.b 16.a 17.a 18.c 19.c 20.a
        21.b 22.c 23.c 24.d 25.d 26.d 27.a 28.d 29.d 30.c
        31.a 32.c 33.b 34.c 35.c 36.a 37.b 38.c 39.a 40.c

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